See the latest Livestock, Dairy, and Poultry Outlook report.
Report Summary
Dairy: The 2025 milk production forecast is increased to 226.9 (+0.7) billion pounds due to higher expected cow numbers (+25,000) and anticipated improved milk yield per cow (+10 pounds). Dairy product price forecasts are adjusted lower from last month's forecasts, including Cheddar cheese $1.790 (-2.0 cents), dry whey $0.510 (-1.50 cents), butter $2.445 (-7.0 cents), and non-fat dry milk (NDM) $1.22 (-3.5 cents). With lower price forecasts across main dairy products, the forecasts for Class III and IV milk prices are also revised downward from the previous projections to $17.60 (-$0.35) and $18.20 (-$0.60) per hundredweight (cwt), respectively. The all-milk price for 2025 is now forecast at $21.10 per cwt, down $0.50 from last month's forecast.